Alessandro Sartori Sells 6,505 Shares of Ermenegildo Zegna (NYSE:ZGN) Stock

Ermenegildo Zegna N.V. (NYSE:ZGN) Director Alessandro Sartori sold 6,505 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the sale, the director directly owned 142,237 shares in the company, valued at approximately $1,866,149.44. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ermenegildo Zegna Trading Down 0.9%

Shares of Ermenegildo Zegna stock opened at $12.40 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. The company has a fifty day simple moving average of $11.07 and a 200-day simple moving average of $10.61. Ermenegildo Zegna N.V. has a 12-month low of $7.61 and a 12-month high of $13.38.

Ermenegildo Zegna (NYSE:ZGN) last announced its quarterly earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). The company had revenue of $577.83 million for the quarter, compared to analysts’ expectations of $1.17 billion. As a group, equities analysts expect that Ermenegildo Zegna N.V. will post 0.46 earnings per share for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 6th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 99.0%.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of the company. CWM LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at about $25,000. California State Teachers Retirement System purchased a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ermenegildo Zegna by 11,382.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after buying an additional 3,870 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $54,000. Finally, Parallel Advisors LLC acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at $69,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group reissued a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Bank of America reissued a “neutral” rating and issued a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 target price on the stock. Finally, TD Cowen lifted their target price on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the company a “hold” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.26.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.